0321 GMT - JG Summit Holdings' recent share-price weakness is likely a buying opportunity, Maybank Securities analysts say, citing the sharp year-to-date decline. The Philippine conglomerate's current market capitalization represents only its investments in PLDT and Manila Electric, the analysts note in a research report. The shares are also trading at a 65% discount to the real-time net asset value, deeper than the five-year average of 23%, the analysts say. The brokerage raises its target price for the stock to PHP34.00 from PHP33.00, reflecting adjusted target prices for business units Bank of the Philippine Islands, Manila Electric, and Cebu Air, with an unchanged buy rating. Shares are 0.45% lower at PHP17.68. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 22:21 ET (03:21 GMT)
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